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Online sports betting hurts consumers
New evidence makes it clear that more lawmakers need to take the issue seriously
Large samples of individual financial data show that legalized sports gambling decreases credit scores, increases debt loads, and substitutes positive investment activities. As prominent elections prognosticator and noted gambler Nate Silver said in a recent Bloomberg interview, these companies are “hiring MIT aerospace engineers to figure out how to get you to spend more,” and the “lower end of the market is definitely predatory.” But the evidence clearly shows that legalizing mobile sports gambling significantly increases betting activity that is harmful to consumer financial health, and steps need to be taken to put some common-sense guardrails in place.
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